We investigate how changes in industries’ funding costs affect total factor productivity (TFP) growth. Panel … allocation of factors across firms within an industry, reducing its TFP. Lower productivity growth accounts for a large fraction …

output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …

This paper empirically assesses the role of structural and institutional reforms in driving productivity growth across … reforms matter more for increasing productivity growth at the aggregate and sectoral levels for some emerging market and … payoffs, the paper also examines how productivity gains from various reforms evolve over the the short- and medium-term …

We study the impact of bank credit on firm productivity. We exploit a matched firm-bankdatabase covering all the credit …

Slow productivity growth has plagued the euro area since the mid-1990s. That is particularly striking in view of the … large productivity gains in the United States during the same period. This paper shows that the deceleration in labor … productivity in the euro area was caused by structural changes in wage formation that have affected the relative price of labor …

supply and demand shocks—measured as changes in, respectively, productivity and government purchases at the sector level … shock associated with the pandemic. We find spillover effects to be sizeable, making up a significant fraction of the …

there is insufficient demand for formal goods. Quantitatively we find that higher productivity in the formal sector is key … shock absorber with the informal-formal margin limiting movements in the employed-unemployed margin …

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper … examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a novel identification scheme … borrowers in distress, and find that a negative shock to bank credit supply reduces firms' loan growth, investment, capital …